TL;DR:
- Intel Plans $20B Equity Raise
- Intel is reportedly upsizing its share sale to around $20B, with demand exceeding $100B.
- Shares are expected to price at ~$95 or above, about 6.5% below Friday’s close.
- The fundraising supports CEO Lip-Bu Tan’s balance sheet cleanup strategy and comes amid a broader AI-driven capital raising wave.
- Nvidia Secures $500B AI Infrastructure Financing Network
- Nvidia is partnering with Apollo, BlackRock, Blackstone, Brookfield, KKR, and Goldman Sachs to arrange up to $500B in AI infrastructure financing.
- The plan focuses on debt financing for data centers and compute capacity using third-party capital.
- The move highlights massive AI infrastructure demand but also raises concerns over AI spending sustainability and circular financing risks.
- Microsoft Prepares Maia 300 AI Chip Launch
- Microsoft plans to unveil Maia 300 in September and is negotiating with TSMC for 300,000+ chips by 2027.
- The custom AI accelerator aims to reduce reliance on Nvidia GPUs across Azure, Copilot, and OpenAI workloads.
- Scaling risks remain due to TSMC capacity constraints, CoWoS packaging shortages, and rising competition from other custom AI chip developers.
Intel Is Said to Near Share Sale Upsize to Raise $20 Billion
Intel Corp. is seeking to increase the amount it’s raising in a share sale to about $20 billion, according to people familiar with the matter, a third more than it was targeting when it announced the deal Monday morning.
Will Intel Stock Price Recover to >US$105 by the end of August 2026?
The chipmaker is poised to price the offering at around $95 per share or above, the people said. At that level, the pricing would represent a discount of 6.5% to Friday’s closing price.
The offering could increase to well over $20 billion if a so-called over-allotment option is exercised, one of the people said. The share sale has drawn more than $100 billion in demand, they said.
Deliberations are ongoing and details including the size and pricing could still change, the people said. A spokesperson for Intel declined to comment.
JPMorgan Chase & Co., Goldman Sachs Group Inc., Morgan Stanley and Citigroup Inc. are working on the offering, according to a statement earlier. The deal is multiple times oversubscribed.
Intel’s shares were little changed in after-hours trading after falling 4.1% on Monday during normal market hours. They remain up roughly 164% this year, after Chief Executive Officer Lip-Bu Tan made cleaning up Intel’s finances a priority. The effort has included attracting outside investments from the US government and even chip rivals such as Nvidia Corp.
The year’s biggest US equity offerings have been dominated by companies riding the boom in artificial intelligence spending. Alphabet Inc. is in the process of raising as much as $85 billion through equity offerings, including so-called at-the-market share sales and equity-linked deals. And Oracle Corp.’s fundraising plans include a $20 billion at-the-market share sale program.
Nvidia Taps Wall Street for $500 Billion Funding Commitment
US investment giants including Apollo Global Management Inc., Blackstone Inc., BlackRock Inc. and Brookfield Asset Management are partnering with Nvidia Corp. to source $500 billion in financing for artificial intelligence infrastructure.
The coalition, which also includes Goldman Sachs Group Inc. and KKR & Co., will “create dedicated pools of capital at significant scale at attractive rates for Nvidia customers,” according to a statement Monday. Nvidia Chief Executive Officer Jensen Huang said in a CNBC interview that he approached only the six firms for the commitment, and none turned him down.
The effort comes with a huge headline figure but few details on the timing and structure of the financings, or how much the plan goes beyond the string of AI deals that are already driving a large chunk of Wall Street’s biggest transactions. Executives indicated that it will focus on debt financing to provide access to compute for Nvidia’s largest customers and that there are already many deals in the works that would qualify toward this commitment.
Nvidia has already signed hundreds of billions of dollars worth of deals with companies across the AI ecosystem, stoking concerns from some investors that the chipmaking giant is inflating demand and valuations across the industry through the circular nature of such agreements.
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Now, the firm is publicly tapping the biggest private markets firms to provide funding for its customers amid the trillions of dollars that are expected to be needed for the data centers, power stations and chips that will power the next era of AI.
The money will all be third-party capital, Huang said in the CNBC interview, which also featured executives from each of the six Wall Street firms.
“It’s a big infrastructure build, and the capital markets are signaling that there’s lots of capital available to support it,” Goldman Sachs CEO David Solomon said, adding that his firm is trying to find different ways of “getting the capital to the right places to extend this or accelerate this.”
Such deals are set to start coming to market within months, the person said.
As the only bank in the partnership, Goldman Sachs is positioning itself to be the lead bookrunner on the public debt deals coming to market for the deal. It will also gather investment returns from debt distributed through its asset-management arm, which oversees more than $4 trillion in assets.
Microsoft plans Maia 300 chip reveal in September
Microsoft is targeting a public unveiling of its next-generation Maia 300 AI accelerator as soon as September. It has also entered talks to secure manufacturing capacity for more than 300,000 units from TSMC, with delivery planned for 2027, The Information reported Monday.
Taiwan Semiconductor Manufacturing is the direct supply-chain beneficiary. Microsoft is negotiating with TSMC to fill an order that dwarfs the tens of thousands of Maia 200 chips produced to date. The longer-term ambition is capacity for more than one million units, though component supplies and ongoing packaging negotiations could constrain that target.
Will Microsoft or TSMC Officially Announce Maia 300 Partnership by end of 3Q2026?
The scale of the ambition marks a sharp turn from the Maia program's troubled recent history. The Maia 200 was delayed after early tests fell short of internal goals and has since been deployed in only a small number of data centers. CEO Satya Nadella told investors on Microsoft's Q4 FY2026 earnings call on July 29 that the chip delivers 30% better performance per dollar compared to existing hardware and is scaling to support OpenAI and MAI models. The limited footprint, however, underscores how far the homegrown silicon program still has to go.
Reducing dependence on Nvidia is a stated priority for Nadella. The Maia line is central to that effort. Microsoft believes its chips can run both in-house and OpenAI models at lower cost, and the company is ramping internal usage through Azure AI Foundry and Copilot while pitching the technology to large external cloud customers.
Anthropic is among the names Microsoft hopes to win over. That pitch has a complication: Anthropic confirmed earlier this month that it is forming its own internal semiconductor team to design custom chips for its Claude models, making the AI startup simultaneously a potential Maia 300 customer and an emerging long-term competitor in custom silicon.
Execution risks are real. J.P. Morgan analysts flagged that projects concentrated on TSMC's N3 process and CoWoS advanced chip-packaging technology face supply tightness through 2027, a constraint directly relevant to Microsoft's Maia 300 ramp.
All eyes will turn to Nvidia's Q3 FY2027 earnings, expected August 26, where management commentary on hyperscaler custom silicon competition will be parsed closely. A formal Maia 300 reveal in September, if it materializes, could serve as an early catalyst for that conversation — and a test of whether Microsoft's second-generation chip can deliver at a scale the first one never reached.
Source:
- Bloomberg; https://www.bloomberg.com/news/articles/2026-08-10/intel-is-said-to-near-share-sale-upsize-to-raise-20-billion?srnd=homepage-asia
- Bloomberg; https://www.bloomberg.com/news/articles/2026-08-10/nvidia-to-team-with-wall-street-on-500-billion-package-ft-says
- Yahoo!finance; https://finance.yahoo.com/technology/ai/articles/microsoft-plans-maia-300-chip-140432692.html
